Apple Inc. (NASDAQ:AAPL) is Intech Investment Management LLC's Largest Position

Intech Investment Management LLC decreased its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 19.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,872,310 shares of the iPhone maker's stock after selling 464,232 shares during the period. Apple comprises about 14.0% of Intech Investment Management LLC's investment portfolio, making the stock its biggest holding. Intech Investment Management LLC's holdings in Apple were worth $468,864,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. State Street Corp boosted its stake in shares of Apple by 10.6% in the 3rd quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker's stock worth $136,074,372,000 after buying an additional 55,935,105 shares during the last quarter. FMR LLC lifted its position in Apple by 5.3% during the third quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker's stock valued at $84,779,231,000 after purchasing an additional 18,224,005 shares in the last quarter. Geode Capital Management LLC lifted its position in Apple by 6.5% during the third quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker's stock valued at $77,542,863,000 after purchasing an additional 20,483,787 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Apple by 3.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 98,099,411 shares of the iPhone maker's stock valued at $24,566,054,000 after purchasing an additional 3,156,680 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Apple by 1.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 91,568,390 shares of the iPhone maker's stock valued at $21,335,435,000 after purchasing an additional 1,742,087 shares in the last quarter. Institutional investors own 67.73% of the company's stock.

Apple Trading Down 0.5%

NASDAQ AAPL traded down $0.94 during trading hours on Friday, hitting $199.01. 70,744,759 shares of the company were exchanged, compared to its average volume of 56,229,633. The stock has a 50-day moving average price of $203.10 and a 200 day moving average price of $225.00. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. The stock has a market cap of $2.97 trillion, a PE ratio of 31.59, a price-to-earnings-growth ratio of 2.44 and a beta of 1.27.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.03. Apple had a return on equity of 160.83% and a net margin of 24.30%. The company had revenue of $95.36 billion for the quarter, compared to analysts' expectations of $94.04 billion. During the same period in the previous year, the firm posted $1.53 earnings per share. The firm's revenue for the quarter was up 5.1% on a year-over-year basis. Analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were paid a dividend of $0.26 per share. This is a boost from Apple's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, May 12th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.52%. Apple's dividend payout ratio is currently 16.20%.

Apple announced that its Board of Directors has initiated a share repurchase plan on Thursday, May 1st that permits the company to repurchase $100.00 billion in shares. This repurchase authorization permits the iPhone maker to buy up to 3.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board believes its shares are undervalued.

Analysts Set New Price Targets

AAPL has been the topic of several analyst reports. Jefferies Financial Group reiterated an "underperform" rating and set a $170.62 target price (up from $167.88) on shares of Apple in a research report on Friday, May 2nd. Tigress Financial lifted their target price on Apple from $295.00 to $300.00 and gave the company a "strong-buy" rating in a research report on Thursday, April 3rd. Loop Capital lowered their target price on Apple from $230.00 to $215.00 and set a "hold" rating on the stock in a research report on Wednesday, April 30th. DA Davidson boosted their price objective on Apple from $230.00 to $250.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Finally, Bank of America lowered their price objective on Apple from $250.00 to $240.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $235.80.

Insider Buying and Selling

In other Apple news, CEO Timothy D. Cook sold 108,136 shares of the company's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total value of $24,184,616.40. Following the transaction, the chief executive officer now owns 3,280,295 shares of the company's stock, valued at $733,637,976.75. This represents a 3.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Chris Kondo sold 4,486 shares of the company's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $208.19, for a total value of $933,940.34. Following the completion of the transaction, the insider now directly owns 15,533 shares in the company, valued at $3,233,815.27. This trade represents a 22.41% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 191,507 shares of company stock valued at $42,694,080. Insiders own 0.06% of the company's stock.

Apple Company Profile

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.